Determination Ensures Franchise Success

Franchising is presumed to be a sure short method of success in business with franchisor giving all kind of initial support and hand holding. Still it cannot ensure success unless the franchisee has the right attitude for it. The article talks about the d

The franchise model which is considered a safer way to get into entrepreneurship does not guarantee success. Franchising just like any other business model requires determination and dedication to strive through the harsh competition of the market. An aspiring entrepreneur with his basic skills in place needs be passionate about his business idea to excel. Today’s entrepreneurs have received a better stature than their counterparts of the past. This is mainly due to behavioural factor. Change in attitude brings a remarkable change in results. This article finds out the difference of attitude that an aspirant posses, namely hero and nero.

According to Sonia Nagpal, Director, i360, “The first ingredient for a successful franchisee is his attitude towards his business venture. Franchisees need to have the necessary skills to survive and grow in the highly competitive franchise arena.” Therefore an aspiring entrepreneur himself can be the best judge whether he can be successful in the franchise venture or not. There are few differences between the characteristics and aspirations of a highly resolute franchisee. Such franchisees are referred to as ‘Hero’ and entrepreneurs who are non-serious referred to as ‘Nero’.

Difference between Heroes and Neros

All aspirants may not become successful franchisees. There are disparities between views of entrepreneurs who are inclined to become successful franchisees and those who are indecisive and unsure of the path. In the words of Rajan Chhibba, Managing Director, Intrim Business Associates, “There is a vast difference in the aspirations and capabilities of heroes and neros. A nero dreams of swanky offices, big cars and power, while a hero wants his business to earn profits from loyal customers. He aims for building his business assets than personal development.” Some of the other differences are as follows:

Difference in attitude: There is a lot of difference between the attitudes of a hero and a nero. The hero always works hard while nero always sees a path which needs less work and easy gains.

Outlook towards challenges: The hero always seeks and overcome challenges while the nero avoids and ducks the business challenges. He always sees the easy way out.

Variation in money making: The hero aims to make his dream into reality and works hard towards achieving them. However a nero aims to earn money through the business. His main concern is to make money and he does not have any dream of growing his business.

Difference in terms of power: Heroes and neros differ in terms of looking at power. A nero wants publicity without working hard, while a hero sees power when his business makes three times more profit then in the previous year. His goal is to make his business achieve greater success.

Disparity in risk taking: A nero may take risk in business only to prove himself right. He may put his business at risk for his personal gain while a hero always balances risk and business. He has the knowledge of his resources and takes risk only for the betterment of his business.

Variation in time management: As said by Chhibba, “There are many aspirants who take up a franchise just to be free from their monotonous 9 to 5 job and also to be their own masters. Franchisees who have this in mind are neros. However, entrepreneurs who dream to make business empires become successful.” In reality being a franchisee means having a busier and more hectic work schedule than being in a job.

Outlook toward plans and goals: Heroes and neros have difference in their views regarding plans and goals. A nero can be rigid in terms of his business plans but is flexible for achieving goals. Nevertheless heroes always show flexibility in their business plans but are rigid in terms of goals. They set their goals and try to achieve them in any way.

To conclude, it is important for aspiring entrepreneurs before taking the plunge in franchising to see whether they have the characteristics of heroes or neros. If you are a Hero, use it for your advantage, aspirants with the right skill and attitude will make a great difference in the franchising arena.

The franchise model which is considered a safer way to get into entrepreneurship does not guarantee success. Franchising just like any other business model requires determination and dedication to strive through the harsh competition of the market. An aspiring entrepreneur with his basic skills in place needs be passionate about his business idea to excel. Today’s entrepreneurs have received a better stature than their counterparts of the past. This is mainly due to behavioural factor. Change in attitude brings a remarkable change in results. This article finds out the difference of attitude that an aspirant posses, namely hero and nero.

According to Sonia Nagpal, Director, i360, “The first ingredient for a successful franchisee is his attitude towards his business venture. Franchisees need to have the necessary skills to survive and grow in the highly competitive franchise arena.” Therefore an aspiring entrepreneur himself can be the best judge whether he can be successful in the franchise venture or not. There are few differences between the characteristics and aspirations of a highly resolute franchisee. Such franchisees are referred to as ‘Hero’ and entrepreneurs who are non-serious referred to as ‘Nero’.

Difference between Heroes and Neros

All aspirants may not become successful franchisees. There are disparities between views of entrepreneurs who are inclined to become successful franchisees and those who are indecisive and unsure of the path. In the words of Rajan Chhibba, Managing Director, Intrim Business Associates, “There is a vast difference in the aspirations and capabilities of heroes and neros. A nero dreams of swanky offices, big cars and power, while a hero wants his business to earn profits from loyal customers. He aims for building his business assets than personal development.” Some of the other differences are as follows:

Difference in attitude: There is a lot of difference between the attitudes of a hero and a nero. The hero always works hard while nero always sees a path which needs less work and easy gains.

Outlook towards challenges: The hero always seeks and overcome challenges while the nero avoids and ducks the business challenges. He always sees the easy way out.

Variation in money making: The hero aims to make his dream into reality and works hard towards achieving them. However a nero aims to earn money through the business. His main concern is to make money and he does not have any dream of growing his business.

Difference in terms of power: Heroes and neros differ in terms of looking at power. A nero wants publicity without working hard, while a hero sees power when his business makes three times more profit then in the previous year. His goal is to make his business achieve greater success.

Disparity in risk taking: A nero may take risk in business only to prove himself right. He may put his business at risk for his personal gain while a hero always balances risk and business. He has the knowledge of his resources and takes risk only for the betterment of his business.

Variation in time management: As said by Chhibba, “There are many aspirants who take up a franchise just to be free from their monotonous 9 to 5 job and also to be their own masters. Franchisees who have this in mind are neros. However, entrepreneurs who dream to make business empires become successful.” In reality being a franchisee means having a busier and more hectic work schedule than being in a job.

Outlook toward plans and goals: Heroes and neros have difference in their views regarding plans and goals. A nero can be rigid in terms of his business plans but is flexible for achieving goals. Nevertheless heroes always show flexibility in their business plans but are rigid in terms of goals. They set their goals and try to achieve them in any way.

To conclude, it is important for aspiring entrepreneurs before taking the plunge in franchising to see whether they have the characteristics of heroes or neros. If you are a Hero, use it for your advantage, aspirants with the right skill and attitude will make a great difference in the franchising arena.

Dear Mr. Rajan,
Found your comments interesting to read. I had a couple of questions from a Franchisors prospective, would apprecaite if you could shed some light on them.
Successful domestic franchise network:
1.Would this relate to any specific industry segment?
2.What do Franchisees look for in their Franchisors besides updated operating manuals?
Feasibility of concept at foreign locations:
1. What can you recommend would be on a check list for a Prospective Franchisors do to assess the buy in from foreign locations?
Do not expect wonders:
1. What time frame should a Franchisor look at?
2. What kind of return should he/she expect,
3. What is the evaluating process that the franchise consultant will conduct?
4. How does a franchise consultant determine the franchise fee,
5. What is required from the Prospective Franchisor to submit to the Franchise Consultant for this to be an effective exercise?
Look forward to your comments

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